16,555 Shares in Beacon Roofing Supply, Inc. (NASDAQ:BECN) Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,555 shares of the company’s stock, valued at approximately $874,000.

Several other institutional investors and hedge funds have also bought and sold shares of BECN. Fox Run Management L.L.C. bought a new stake in Beacon Roofing Supply in the 3rd quarter worth $283,000. Hsbc Holdings PLC grew its holdings in Beacon Roofing Supply by 41.0% in the 3rd quarter. Hsbc Holdings PLC now owns 16,553 shares of the company’s stock worth $918,000 after acquiring an additional 4,810 shares during the last quarter. Clayton Dubilier & Rice LLC grew its holdings in Beacon Roofing Supply by 0.7% in the 3rd quarter. Clayton Dubilier & Rice LLC now owns 14,878,067 shares of the company’s stock worth $814,128,000 after acquiring an additional 103,931 shares during the last quarter. Natixis Advisors L.P. grew its holdings in Beacon Roofing Supply by 124.5% in the 4th quarter. Natixis Advisors L.P. now owns 98,786 shares of the company’s stock worth $5,215,000 after acquiring an additional 54,774 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its position in shares of Beacon Roofing Supply by 13.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 4,384 shares of the company’s stock worth $231,000 after buying an additional 506 shares during the last quarter.

Wall Street Analysts Forecast Growth

BECN has been the topic of a number of recent analyst reports. TheStreet lowered Beacon Roofing Supply from a “b” rating to a “c” rating in a research report on Friday, May 5th. Robert W. Baird lifted their target price on shares of Beacon Roofing Supply from $65.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. StockNews.com initiated coverage on shares of Beacon Roofing Supply in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Zelman & Associates lowered shares of Beacon Roofing Supply from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Beacon Roofing Supply from $85.00 to $86.00 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Beacon Roofing Supply has a consensus rating of “Hold” and an average price target of $70.00.

Beacon Roofing Supply Trading Up 0.8 %

Beacon Roofing Supply stock opened at $66.00 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The business’s fifty day simple moving average is $59.30 and its two-hundred day simple moving average is $58.35. Beacon Roofing Supply, Inc. has a 12 month low of $45.71 and a 12 month high of $68.31. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 12.69 and a beta of 1.57.

Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Beacon Roofing Supply had a net margin of 5.01% and a return on equity of 27.52%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.98 billion. As a group, equities analysts predict that Beacon Roofing Supply, Inc. will post 6.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $61.00, for a total transaction of $91,500.00. Following the transaction, the insider now directly owns 58,183 shares of the company’s stock, valued at $3,549,163. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Beacon Roofing Supply news, insider Clement Munroe Best III sold 1,500 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $61.00, for a total transaction of $91,500.00. Following the transaction, the insider now owns 58,183 shares in the company, valued at approximately $3,549,163. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cd&R Investment Associates Ix, bought 99,880 shares of the stock in a transaction on Friday, April 28th. The shares were bought at an average price of $60.07 per share, for a total transaction of $5,999,791.60. Following the purchase, the insider now directly owns 15,171,964 shares in the company, valued at approximately $911,379,877.48. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Beacon Roofing Supply Company Profile

(Get Rating)

Beacon Roofing Supply, Inc engages in the distribution of residential and non-residential roofing materials. It also distributes complementary building products including siding, windows, specialty exterior building products, insulation, and waterproofing systems for building exteriors. The company was founded on August 22, 1997 and is headquartered in Herndon, VA.